Complete the balance sheet and sales information in the table that follows for J. White Industries using the following financial data: Total assets turnover: 1.7 Gross profit margin on sales: (Sales - Cost of goods sold)/Sales = 30% Total liabilities-to-assets ratio: 45% Quick ratio: 0.80 Days' sales outstanding (based on 365-day year): 36.5 days Inventory turnover ratio: 3.50 Do not round intermediate calculations. Round your answers to the nearest whole dollar. Partial Income Statement Information Sales $

Complete the balance sheet and sales information in the table that follows for J. White Industries using the following financial data: Total assets turnover: 1.7 Gross profit margin on sales: (Sales - Cost of goods sold)/Sales = 30% Total liabilities-to-assets ratio: 45% Quick ratio: 0.80 Days' sales outstanding (based on 365-day year): 36.5 days Inventory turnover ratio: 3.50 Do not round intermediate calculations. Round your answers to the nearest whole dollar. Partial Income Statement Information Sales $

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter15: Financial Statement Analysis

Section: Chapter Questions

Problem 56P: The following selected information is taken from the financial statements of Arnn Company for its...

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The following selected information is taken from the financial statements of Arnn Company for its most recent year of operations: During the year, Arnn had net sales of 2.45 million. The cost of goods sold was 1.3 million. Required: Note: Round all answers to two decimal places. 1. Compute the current ratio. 2. Compute the quick or acid-test ratio. 3. Compute the accounts receivable turnover ratio. 4. Compute the accounts receivable turnover in days. 5. Compute the inventory turnover ratio. 6. Compute the inventory turnover in days.
Juroe Company provided the following income statement for last year: Juroes balance sheet as of December 31 last year showed total liabilities of 10,250,000, total equity of 6,150,000, and total assets of 16,400,000. Required: 1. Calculate the return on sales. (Note: Round the percent to two decimal places.) 2. CONCEPTUAL CONNECTION Briefly explain the meaning of the return on sales ratio, and comment on whether Juroes return on sales ratio appears appropriate.
FINANCIAL RATIOS Based on the financial statements for Jackson Enterprises (income statement, statement of owners equity, and balance sheet) shown on pages 596597, prepare the following financial ratios. All sales are credit sales. The Accounts Receivable balance on January 1, 20--, was 21,600. 1. Working capital 2. Current ratio 3. Quick ratio 4. Return on owners equity 5. Accounts receivable turnover and average number of days required to collect receivables 6. Inventory turnover and average number of days required to sell inventory
Cuneo Companys income statements for the last 3 years are as follows: Refer to the information for Cuneo Company above. Required: 1. Prepare a common-size income statement for Year 1 by expressing each line item as a percentage of sales revenue. (Note: Round percentages to the nearest tenth of a percent.) 2. Prepare a common-size income statement for Year 2 by expressing each line item as a percentage of sales revenue. (Note: Round percentages to the nearest tenth of a percent.) 3. Prepare a common-size income statement for Year 3 by expressing each line item as a percentage of sales revenue. (Note: Round percentages to the nearest tenth of a percent.)
FINANCIAL RATIOS Based on the financial statements foe Jackson Enterprises (income statement, statement of owners equity, and balance sheet) shown on pages 598599, prepare the following financial ratios. All sales are credit sales. The Accounts Receivable balance on January 1, 20--, was 21,600. 1. Working capital 2. Current ratio 3. Quick ratio 4. Return on owners equity 5. Accounts receivable turnover and average number of days required to collect receivables 6. Inventory turnover and average number of days required to sell inventory
Balance Sheet Analysis Complete the balance sheet and sales information in the table that follows for J. White Industries using the following financial data: Total assets turnover: 1.3Gross profit margin on sales: (Sales - Cost of goods sold)/Sales = 20%Total liabilities-to-assets ratio: 45%Quick ratio: 0.90Days' sales outstanding (based on 365-day year): 36.5 daysInventory turnover ratio: 3.50 Do not round intermediate calculations. Round your answers to the nearest whole dollar. Partial Income Statement Information Sales? Cost of goods sold? Balance Sheet
Balance Sheet Analysis Complete the balance sheet and sales information in the table that follows for J. White Industries using the following financial data: Total assets turnover: 1.8Gross profit margin on sales: (Sales - Cost of goods sold)/Sales = 20%Total liabilities-to-assets ratio: 35%Quick ratio: 0.90Days' sales outstanding (based on 365-day year): 36.5 daysInventory turnover ratio: 3.25 Do not round intermediate calculations. Round your answers to the nearest whole dollar.
omplete the balance sheet and sales information in the table that follows for J. White Industries using the following financial data: Total assets turnover: 1.7Gross profit margin on sales: (Sales - Cost of goods sold)/Sales = 25%Total liabilities-to-assets ratio: 45%Quick ratio: 1.00Days' sales outstanding (based on 365-day year): 36.5 daysInventory turnover ratio: 3.25 Do not round intermediate calculations. Round your answers to the nearest whole dollar. Partial Income Statement Information Sales $ Cost of goods sold Balance Sheet Assets Liabilities and Equity Cash $ Accounts payable $ Accounts receivable Long-term debt 50,000 Inventories Common stock Fixed assets Retained earnings 100,000 Total assets $ 400,000 Total liabilities and equity $
Complete the balance sheet and sales information in the table that follows for J. White Industries using the following financial data: Total assets turnover: 1.4Gross profit margin on sales: (Sales - Cost of goods sold)/Sales = 30%Total liabilities-to-assets ratio: 45%Quick ratio: 0.80Days' sales outstanding (based on 365-day year): 36.5 daysInventory turnover ratio: 3.75 Do not round intermediate calculations. Round your answers to the nearest whole dollar.
Complete the balance sheet and sales information in the table that follows for J. White Industries using the following financial data: Total assets turnover: 1.7Gross profit margin on sales: (Sales - Cost of goods sold)/Sales = 25%Total liabilities-to-assets ratio: 45%Quick ratio: 1.00Days' sales outstanding (based on 365-day year): 36.5 daysInventory turnover ratio: 3.25 Do not round intermediate calculations. Round your answers to the nearest whole dollar. Partial Income Statement Information Sales $ Cost of goods sold Balance Sheet Assets Liabilities and Equity Cash $ Accounts payable $ Accounts receivable Long-term debt 50,000 Inventories Common stock Fixed assets Retained earnings 100,000 Total assets $ 400,000 Total liabilities and equity $
Balance Sheet Analysis Complete the balance sheet and sales information in the table that follows for J. White Industries, using the following financial data: Total assets turnover: 1.7 Gross profit margin on sales: (Sales - Cost of goods sold)/Sales = 25% Total liabilities-to-assets ratio: 45% Quick ratio: 1.20 Days' sales outstanding (based on 365-day year): 36.5 days Inventory turnover ratio: 3.25 Do not round intermediate calculations. Round your answers to the nearest whole dollar. Partial Income Statement Information Sales Cost of goods sold Balance Sheet Information Cash Accounts receivable Inventories $ Fixed assets Total assets tA $ 400,000 Accounts payable Long-term debt Common stock Retained earnings Total liabilities and equity $ LA 50,000 100,000
Balance Sheet Analysis Complete the balance sheet and sales information in the table that follows for J. White Industries using the following financial data: Total assets turnover: 1.8 Gross profit margin on sales: (Sales - Cost of goods sold)/Sales = 25% Total liabilities-to-assets ratio: 40%Quick ratio: 0.90 Days' sales outstanding (based on 365-day year): 36.5 days Inventory turnover ratio: 3.25 Do not round intermediate calculations. Round your answers to the nearest whole dollar. Partial Income Statement Information Sales $ Cost of goods sold Balance Sheet Assets Liabilities and Equity Cash $ Accounts payable $ Accounts receivable Long-term debt 50,000 Inventories Common stock Fixed assets Retained earnings 100,000 Total assets $ 400,000 Total liabilities and equity $